Postal Service posts $3B loss, warns of default

For the nine months that ended June 30, the Postal Service lost a total of $5.7 billion. Mail volume continued to decline, led by first-class services, as more consumers relied on e-mail and electronic bill-paying. Total volume fell to 39.8 billion pieces, a drop of 2.6% from the same period a year ago.

Though regulated by Congress, the USPS does not receive taxpayer funding. The default threat has raised the specter of a bailout.